Advertisement

Xerox raises offer to buy HP

Xerox Holdings Corp raised its offer to buy HP Inc by $2 to $24 per share on Monday, following several rejections of its previous buyout offer by the PC maker.
 
Xerox said its latest offer comprises $18.40 in cash and 0.149 Xerox shares for each HP share — valuing the company at about $35 billion — and that it plans to launch a tender offer on or around March 2.
 
HP shares rose nearly three per cent to $22.31, while Xerox was up about one per cent.
                                         
The U.S. printer maker first made a $33.5 billion cash-and-stock offer for HP, a company more than three times its size, in November. 
 
HP's board had then rejected the offer, saying it significantly undervalued the company.


comments powered by Disqus
More Stories
Most Popular
JUST IN: Mandeville gas station on fire
FINSAC and FIS to further scale down...
Central Government generates Primary and...